If you’re selling a home in a competitive market, multiple offers can be exciting—but they can also be overwhelming. While getting several offers often means you’re in a strong position, it’s important to choose wisely. The highest offer isn't always the best, and the right decision should align with your goals.
Here’s how to navigate multiple offers and secure the best deal for you.
1. Look Beyond Price: The Terms Matter
A high offer might seem like the obvious choice, but consider these factors:
- Financing Type – Cash offers eliminate financing risks, while FHA or VA loans may require stricter appraisals.
- Closing Timeline – Does the buyer’s preferred timeline match yours?
- Contingencies – Are there inspection, appraisal, or home sale contingencies that could delay or complicate the deal?
- Earnest Money Deposit – A larger deposit signals a serious, committed buyer.
2. Weigh the Strength of the Buyer
Even with a great offer, you want a buyer who will actually make it to closing. Review:
- 💰 Pre-approval strength – Are they fully underwritten or just pre-qualified?
- 🏡 Existing home sale – If their purchase depends on selling another property, there’s more risk.
- 💳 Down payment size – A higher down payment reduces financing concerns.
3. Consider the Appraisal Factor
If a buyer offers well over asking price, make sure they have the cash to cover an appraisal gap. If the home doesn’t appraise at the offer price, will the buyer still proceed, or will they renegotiate? Cash buyers don’t require appraisals, making them stronger in this regard.
4. Use a Backup Offer as Leverage
If you have strong secondary offers, you can:
- Negotiate more confidently with the top offer
- Accept a backup offer so if the first deal falls through, you have another buyer ready
Backup offers reduce uncertainty and keep you in control.
5. Work With an Experienced Realtor®
An agent who understands multiple-offer strategies can help you:
- Compare offers holistically
- Negotiate stronger terms
- Ensure a smooth closing
Thinking of Selling? Let’s Talk Strategy!
The Boston market is competitive, and handling multiple offers requires the right approach. If you’re considering selling, let’s discuss a plan to get top dollar while ensuring a smooth closing.
📩 Reach out to Danielle Dimond Real Estate today to schedule a consultation!